Hubei Dinglong’s Q1 profits surge, revenue growth soars
April 29, 2024
Q1 sees Hubei Dinglong’s revenue and profits skyrocket, driven by strategic expansions and sales.
Hubei Dinglong Holdings recently published its remarkable Q1 report, which shows skyrocketing profits based on increased revenues.
The company’s revenue significantly increased to approximately 708 million yuan ($106.1 million/ €96.8 million), up 29.5% from the same period last year and a dramatic increase in net profit, which reached about 81.6 million yuan ($12.2 million/ €11.2 million), marking a rise of 134.86% compared to the previous year.
In the printer and copier general consumables sector, Hubei Dinglong Holdings maintained a stable business performance. Specifically, the sales revenue in this segment remained nearly unchanged compared to the previous year. The company continued its efforts in management optimisation, efficiency enhancement, and cost control during this period.
The non-recurring net profit attributable to shareholders also saw a sharp rise, amounting to approximately 65.8 million yuan ($9.8 million/ €9.0 million), a 213.71% increase year over year. The net cash flow generated from operating activities was around 166 million yuan ($24.9 million/ €22.7 million), more than double the figure from the previous year, showing a 103.02% increase.
The company’s total assets increased slightly to about 6.82 billion yuan ($1,022.3 million/ €933.5 million), a 1.68% increase from the end of the previous year and the equity attributable to shareholders of the listed company decreased by 2.16% to approximately 4.37 billion yuan ($655.6 million/ €598.5 million).
The company said that there will be a continued focus on semiconductor materials, including CMP process materials for semiconductor manufacturing and advanced packaging materials as there is a notable sales growth in CMP polishing pads and semiconductor display materials.
The company has also initiated investments in the Xiantao Industrial Park project and continued validating and introducing high-end photolithography resins and semiconductor packaging materials.
The company also executed a share buyback program, purchasing 7,448,800 shares at a total cost of about 150 million yuan ($22.5 million/ €20.5 million) and acquired additional stakes in subsidiary companies to enhance operational efficiency and reduce related party transactions.
Basic and diluted earnings per share both stood at 0.0863 yuan ($0.013/ €0.012).
Note: The financials were translated from Chinese using ChatGPT.
Categories : City News
Tags : Business Financials Hubei Dinglong Sales
